Spanish clothing company Inditex, famous for Zara, saw a 7.1% increase in sales in Q1 FY24, reaching €8.2 billion. Adjusted sales grew by 10.6%. Gross profit rose by 7.3% to €4.9 billion, with a gross margin of 60.6%. Operating expenses increased by 6.4%, below sales growth. EBITDA rose by 8% to €2.4 billion.
The company’s EBIT, PBT, and net income all experienced significant increases in the quarter, with EBIT rising by 10.3% to €1.6 billion, PBT by 11.1% to €1.7 billion, and net income by 10.8% to €1.3 billion. Additionally, store and online sales increased by 12% in constant currency compared to the same period in 2023.
Inditex, a fashion retailer, saw a 7.1% increase in sales to €8.2 billion in Q1 FY24. Gross profit rose 7.3% to €4.9 billion with a 60.6% margin. Operating expenses grew by 6.4% and EBITDA increased by 8% to €2.4 billion. Net income also rose by 10.8% to €1.3 billion.
